Vice President's Secretariat
Global cooperation needed to extradite economic fugitives: Vice President
World leaders show keen interest in India’s growth story;
India can become world leader in textiles by combining traditional workmanship with modern methods;
Inaugurates CITI Global Textile Conclave 2018
The Vice President of India, Shri M. Venkaiah Naidu has called for United Nations and other Multilateral Organisations to chalk out strategy to extradite economic fugitives. He was addressing the CITI Global Textiles Conclave 2018, organised to commemorate CITI Diamond Jubilee celebrations, here today. The Union Minister for Textiles, Smt. Smriti Irani and other dignitaries were present on the occasion.
The Vice President said that world leaders he had met during his visits to Europe, Latin America and Africa appreciated India’s development story and said that it was marching forward with remarkable growth. There was a tremendous interest in India’s growth story in the world community, he added.
Shri Naidu said that UN and the world community must take lead and see that an agreement is made to exchange information on bank accounts.
The Vice President said that Accountability and Transparency, Ethics in Business and Standards in Products must be maintained to sustain in the global competitive scenario. He said that India definitely has a competitive advantage in terms of abundant availability of raw material, skilled manpower, manufacturing competitiveness, huge spinning, weaving, processing and garment manufacturing facilities.
Shri Naidu stressed the need to give major thrust to skill development, up gradation and use of Digital technology and adoption of lean manufacturing systems to remain globally competitive.
The Vice President said that India has the unique advantage of combining traditional workmanship with modern methods. We not only have to showcase the wide range to the world but become a global leader in textiles manufacturing and exports, he added.
The Vice President called for modernization of textile industry by proving requited skill, investment and market to recapture India’s past glory in the textiles sector. He said that being the second largest employer after agriculture accounts for 21 per cent employment.
With the world moving towards 4th industrial revolution based on cyber physical systems, Shri Naidu said that the Indian textile industry must take lead in industry 4.0 in view of the distinct advantage enjoyed by us in the IT sector. He called up on the textile industry to fully tap the potential of IoT cloud, artificial intelligence and big data and analytics. He said that it was high time for the industry to establish textile industry 4.0 learning factory in all the major clusters adopting Hub and Spokes Model with Hub focusing on advance training and spokes focusing on basic training.
The Vice President presented the Lifetime Achievement Award to the CMD, Kotak Commodities, Shri Suresh Kotak and five Pioneer Awards to other eminent personalities form Textile Sector for excellence.
Following is the text of Vice President's address:
"I am extremely pleased to inaugurate CITI Diamond Jubilee Celebrations and CITI Global Textiles Conclave 2018. The theme of the conclave ‘Disruptions and innovations for sustainable growth’ is quite appropriate.
The need of the hour for the textile industry is to adopt new and innovative technologies in tune with the demands of the 4th Industrial Revolution.
Dear Sisters and Brothers,
India today meets 14 per cent of world’s textile production and is the second largest exporter with 5.2 per cent global share and 25 per cent in cotton yarn export.
We are also the second largest producer and exporter of cotton; largest producer of jute and silk.
India also accounts for 63 per cent of looms and 37 per cent world area under cotton cultivation. India is the only country which has presence in the whole value chain and manufacturing of textile products from all fibers.
I am told that the textile industry contributes four per cent to the GDP and fetches over US $ 37 billion in forex earnings.
India has a huge potential to increase its presence in the textiles sector globally and capture newer markets.
The need of the hour is to modernize the textile industry, which is the second largest employer after agriculture and accounts for 21 per cent employment .
India should recapture India’s past glory in the textiles sector. When we look at the history and evolution of the textile industry in the country, we find references to weaving and spinning in Vedic texts.
We also know that India was an exporter of finest cotton, silk and muslin materials to other countries before colonization by the British.
The exported Indian materials were also famous for their workmanship and finesse. All that was virtually destroyed during the British rule and In 1817 Fergusson & Company was established with 20,000 spindles and 100 looms at an investment of 2 lakh pounds  at Calcutta.
At the time of independence, India had 409 textile mills and today there are over 3500 textile mills and several thousands of textile units in different segments.
Successive governments since Independence have extended various concessions and taken many initiatives to spur the growth of the textile industry.
I am aware that flagship schemes such as Technology Mission on Cotton, Technology Upgradation Fund Scheme and Scheme for Integrated Textile Parks have fuelled the growth of the textile industry in India.
Allocating Rs.17,822 crores for Technology Upgradation Fund Scheme , Rs. 6,006 cores for boosting garment exports, extending the scheme for integrated Textile Parks, facilitating coastal movement of cotton and launching Powertex India for the benefit of the powerloom sector were among the measures taken by the Government of India in recent years.
According to projections, the Indian textiles and clothing industry has the potential to grow at CAGR of 14 per cent and reach US $ 300 billion by 2025 from US $ 150 billion achieved in the year 2017. The exports textiles and apparels are expected to reach US $ 82 billion by 2021.
Taking advantage of the Digital India programme, the Indian fashion retailers online market is poised to grow to US $ 30 billion by 2020 from the current level of around US $ 7 to 9 billion.
With huge investments being made under the Technology Upgradation Fund Scheme and policy support from both the Government of India and various States, the industry no doubt is poised for growth. The exports are expected to receive a boost in the wake of Free Trade with ASEAN and the proposed agreement with China.Coming back to the theme of the conference, it should be remembered that the textile industry played a pioneering role in the industrial revolution by introducing first mechanical weaving machine in 1784.
The industry has constantly adopted technological advancements during the second and third industrial revolutions.
With the world moving towards 4th industrial revolution based on cyber physical systems, the Indian textile industry must take lead in industry 4.0 in view of the distinct advantage enjoyed by us in the IT sector.
The textile industry needs to fully tap the potential of IoT cloud, artificial intelligence and big data and analytics.
It is high time for the industry to establish textile industry 4.0 learning factory in all the major clusters adopting Hub and Spokes Model with Hub focusing on advance training and spokes focusing on basic training.
Several leading companies in India are already equipped with these technologies and India must press home the advantage.
I am told that the policies relating to Hank Yarn Obligation, Handloom Reservation Act have become obsolete and causing lot of hardship for the spinning and weaving sectors. The government would examine the matter and take appropriate decision.
I am sure that government would also be looking to expedite the conclusion of FTA with EU and other countries.
Rising incomes, increase in population, growth in building, construction, health sectors and online retail trade will drive the demand exponentially in the domestic market.
India definitely has a competitive advantage in terms of abundant availability of raw material, skilled manpower, manufacturing competitiveness, huge spinning, weaving, processing and garment manufacturing facilities.
Finally, before concluding, I would like to advice the industry to focus on backward and forward integration, value addition and diversifying products.
It should also consolidate MSME sector by establishing Hub and Spoke model of cluster development facilities, give major thrust to skill development, upgrade technology and adopt Industry 4.0.
The Industry also needs to adopt lean manufacturing systems to remain globally competitive.
Unlike any other nation, India has the unique advantage of combining traditional workmanship with modern methods. We not only have to showcase the wide range to the world but become a global leader in textiles manufacturing and exports.
JAI HIND!"